AXA XL’s UK and Lloyd’s business has partnered with electric vehicle data platform Gecko Risk to improve how it assesses and advises on the risks of commercial EV fleets.
The partnership gives AXA XL’s underwriters and risk consultants access to Gecko Risk’s data on EV risk profiles. That data covers claims frequency and severity, trends by vehicle make and model, and patterns of EV exposure.
Poonam Jivram (pictured), head of motor underwriting at AXA XL UK and Lloyd’s, said the data would help the insurer support clients with decisions on fleet selection, claims costs and new risk exposures.
“The growing number of EVs in commercial fleets means fleet operators are facing a risk landscape that is not only different, but also continuously changing,” said Jivram.
The deal comes as fleets drive EV take-up in the UK. September’s new car registrations, published this week by the Society of Motor Manufacturers and Traders (SMMT), showed a record 99,201 battery electric cars registered, 28.3% of the market. Fleet buyers accounted for 190,998 registrations, more than half the total.
The government’s Zero Emission Vehicle mandate requires 33% of new cars sold this year to be zero-emission. Jivram said the mandate was expected to speed EV adoption across fleets. With battery electric vehicles at 26.2% of registrations so far this year, manufacturers remain under pressure to push volumes, and fleets are a key channel.
Globally, the trend is similar. The International Energy Agency’s Global EV Outlook 2026 found electric car sales exceeded 20 million in 2025, a quarter of all new cars sold, and forecast they would reach 23 million in 2026.
For motor underwriters, EVs remain hard to price. Repair costs tend to be higher than for petrol and diesel vehicles. Battery damage can lead to write-offs after relatively minor impacts, and many newer models have limited claims histories. Insurance Business has reported on insurers’ difficulty pricing some newer EVs where repair data and parts supply remain thin.
Claims costs across motor more broadly remain elevated. The Association of British Insurers (ABI) said motor insurers paid out a record £3.2 billion in claims in the second quarter.
Gecko Risk’s dashboards are designed to give insurers model-level insight into how EVs actually perform in claims. That should allow underwriters to price based on real loss experience rather than broad assumptions about electric vehicles as a class.
James Fisher, chief executive of Gecko Risk, said the two businesses shared an ambition to use data to help insurers make better-informed decisions.
For fleet brokers, the partnership points to more granular underwriting of electric fleets. Where insurers can see claims frequency and severity by make and model, the vehicles a client chooses are likely to have a bigger influence on premium than the fact that a fleet is electric.
That creates an advisory opportunity. Brokers who can help clients understand which EV models carry higher claims costs, before vehicles are bought or leased, add value at the point where fleet decisions are made, rather than only at renewal.
It also raises the bar for submissions. As insurers gain better EV data, they are likely to ask more detailed questions about fleet composition, charging arrangements and repairer access. Brokers will want to gather that information early.
